KBC Bank Ireland to cut interest rates across a number of savings accounts

KBC Bank Ireland are planning to reduce the interest rates on a number of deposit accounts in a matter of weeks.

In a notification release on Tuesday, the bank announced that the cuts would be effective across four different accounts from August 4.
Customers who own a Smart Access Demand Account will see the return rate drop from 0.45pc to 0.30pc.

The interest rate on the Regular Saver Account, meanwhile, will be halved, with the rate being cut from 1pc to 0.5pc.
Meanwhile, personal customers who save money in a Select Access Demand Account will see the rate decrease from 0.15pc to 0.10pc.

One of the business and pension customers will also be impacted; the Smart Access Demand Account rate is dropping from 0.15pc to 0.10pc.